Putin

Russia plans a modern economic model

Russia must diversify and invest rather than consume and export commodities in order to grow and strengthen, according to Vladimir Putin at VTB Capital’s conference in Moscow on Wednesday.
Vladimir Putin said Russia needs to promote long-term investment, improve the business climate by introducing more incentives to encourage small- and medium-sized enterprises and diversify exports.
Vladimir Putin said Russia needs to promote long-term investment, improve the business climate by introducing more incentives to encourage small- and medium-sized enterprises and diversify exports.

Russia needs to modernise, wean itself off its dependence on commodities, not rely on consumer demand for economic growth, improve labour productivity and encourage entrepreneurs, said Vladimir Putin, president of the Russian Federation, at the Russia Calling Forum organised by VTB Capital on Wednesday.

“Living off the rent from natural resources is unsustainable and would be a burden on future generations,” he warned. Instead, the country must transform its economic development through structural adjustments, investing in education and healthcare in order to ensure Russia is strong.

The message was echoed by government officials throughout the two day conference in Moscow, where they encouraged delegates from business...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222